US Physical Therapy expands to 45th state with clinic deal

• U.S. Physical Therapy (NYSE:USPH) acquired a 12-clinic practice effective July 1, 2026.
• The company purchased a 67% equity stake, while existing owners retained 33%.
• The deal expands USPH’s network to 45 U.S. states and adds about $12 million in annual revenue.

U.S. Physical Therapy (NYSE:USPH) said it acquired a 12-clinic outpatient physical therapy practice, expanding its national footprint into a 45th U.S. state.

The company acquired a 67% equity interest in the practice, while the existing owners retained a 33% stake.

The acquired clinics currently generate approximately 112,000 patient visits per year and about $12 million in annual revenue.

USPH said the transaction is effective July 1, 2026.

The company said the expansion supports its strategy of growing through partnerships with local clinical operators while leveraging national resources.

Graham Reeve, Chief Operating Officer-West, said the new partners bring strong clinical care and community relationships to the USPH network.

The acquisition increases USPH’s presence in outpatient rehabilitation services across the United States.